|Bid||0.7050 x 4650600|
|Ask||0.6500 x 93180300|
|Day's range||0.6750 - 0.6900|
|52-week range||0.6700 - 1.2700|
|PE ratio (TTM)||18.82|
|Earnings date||20 Feb. 2018 - 26 Feb. 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||0.84|
Domain is overvalued at $2 billion and the property advertiser's share price is "excessive", analysts have said. Citi analysts on Friday rated the newly listed Fairfax spinoff a "sell" and set a target of $3.40 per share, about eight per cent below their price on the second day of trade on the ASX. "While we have a positive view on the earnings trajectory for DHG (Domain), the current valuation is excessive in our view," Citi analysts said in a note.
The Domain Holdings Australia Limited (ASX:DHG) spin off promised big things. So has it gone well for Fairfax Media Limited (ASX:FXJ) and its shareholders?
Investors can finally put a number on Fairfax Media Ltd.’s main earnings driver, the property-listings business, which has thrived amid Australia’s real-estate boom.
Shares in energy giant Santos have soared to a 15 month high after it confirmed it recently rejected a takeover offer from a major US investor worth almost $9.5 billion. Santos said the indicative proposal from Harbour Energy in August was inadequate and the sources of funds were uncertain. Fairfax Media is reporting that a consortium of investors, led by Harbour Energy, is planning an all-cash bid worth $11 billion that could be put to the Santos board within weeks.
Fairfax Media's real estate spinoff Domain has begun trading on the Australian Stock Exchange with market value of $2.2 billion. With 575 million Domain shares on issue, the property listings and real estate services business has a market capitalisation of almost $2.23 billion, based on an average $3.86 share price over its first few hours of trading. Parent company Fairfax Media took an expected fall as its highest-value asset was spun out, with Fairfax shares down 31 per cent to 73.5 cents.
Shares in Fairfax Media's property-listing spinoff Domain Holdings have risen seven cents in their first half-hour of trading on the Australian Stock Exchange. Domain shares, which opened at $3.80 at 1200 ...
Shares in Australian publishing giant Fairfax Media plunged by a third on Thursday as it spun-off its lucrative property arm in a bid to boost its bottom line. Domain had been a money-spinning division of Fairfax that benefited from Australia's strong real estate market and digital classifieds, even as its traditional media divisions were hit by advertising and circulation declines. Fairfax flagged spinning-off Domain in February and outlined details in August after a bidding war between US private equity giant TPG Capital and US investment firm Hellman & Friedman to buy the entire firm fell through.
Fairfax Media's plan to spin off its profitable real estate listing business Domain from the news publisher has gained Federal Court approval. Domain is expected to start trading on the ASX on November 16, after shareholders "overwhelming" voted in favour of the separation at Fairfax's annual general meeting last week. Under the plan, Fairfax will retain a 60 per cent interest in Domain while shareholders will hold the remaining 40 per cent - receiving one share in a newly listed Domain for every 10 Fairfax shares owned.
Up to 90 houses could be seized and demolished by the Berejiklian Government to build Sydney's latest toll road, which will cost $9 billion for three stages, according to leaked cabinet documents. A cabinet-in-confidence "business case" obtained by Fairfax Media and the ABC outlines how 60 private properties in the city's south would need to be forcibly acquired at a cost of more than $100 million. Another $150 million would be needed to buy government properties along the 23-kilometre route between St Peters and Loftus, ABC reports.
Fairfax shareholders have voted in favour of the plan to spin off profitable real estate listings business Domain, from the news publisher. At the company's annual general meeting on Thursday, chairman Nick Falloon said the the scheme resolution received "overwhelming" support from shareholders. "Subject to shareholder approval of the capital reduction at the meeting today, and court approval, we expect Domain to commence trading on the ASX on 16 November 2017 on a deferred settlement basis," Mr Falloon said.
Leading Australian publisher Fairfax Media is poised to spin off its lucrative property arm after shareholders on Thursday overwhelmingly backed the plan to boost the embattled firm's prospects. Like its international peers, Fairfax, which owns major newspapers including The Sydney Morning Herald and Australian Financial Review, has had its profits squeezed as advertising and circulation slump in the digital age. "We are pleased to have received shareholder approval for separation of Domain from Fairfax," chairman Nick Falloon said in a statement.
Venture capital investing in the software-as-a-service space is now available to investors with Bailador Technology Investments Ltd (ASX:BTI).
Fairfax Media's shareholders are set to vote on spinning off its lucrative property advertising division, the Australian publishing giant said Friday. Like its international peers, Fairfax -- the owner of major mastheads The Sydney Morning Herald, The Age and The Australian Financial Review -- has seen profits hit by dwindling advertising revenue and circulation figures. The float of Domain had been flagged for some months, with Fairfax hopeful it would get a better market valuation if listed separately on the stock market.
Australian publishing giant Fairfax Media on Wednesday posted a return to profit following a cost-cutting drive, although advertising revenue for its major newspapers weakened further. Fairfax -- which owns The Sydney Morning Herald, The Age and The Australian Financial Review -- reported an annual net profit of Aus$83.9 million (US$65.7 million) in the year to June 30. The turnaround followed a Aus$772.6 million loss reported over a previous 12-month period.
American investment firm Hellman & Friedman has kicked off a bidding war for Australia's Fairfax Media by making a multi-billion-dollar offer to rival private equity company TPG Capital's proposal, the publishing giant said Thursday. Hellman & Friedman -- former owners of US multimedia company and German publisher Axel Springer -- made an offer to acquire Fairfax at Aus$1.225-Aus$1.250 (91-93 US cents) a share late Wednesday, the Australian firm said. The offer is higher than TPG's revised bid of Aus$1.20 made on Monday, and values the publisher at Aus$2.82-Aus$2.87 billion.
A consortium led by private equity giant TPG Capital upped its offer for troubled Fairfax Media Monday and now wants to buy out the entire firm. Last week TPG and the Ontario Teachers' Pension Plan Board offered 95 Australian cents per share for Fairfax's leading mastheads and its lucrative Domain Group focused on property advertising. This would have left shareholders with Fairfax's regional papers, 50 percent of its online streaming service Stan and its beleaguered New Zealand business, which was recently dealt a blow when the country's competition watchdog rejected a merger with NZME.
Staff at Australia's Fairfax Media walked off the job for a week on Wednesday in protest at more hefty job cuts as the leading publisher struggles to cope with slumping revenues. The strike action by journalists, including those from the Sydney Morning Herald and The Melbourne Age, followed an announcement that Fairfax will cut another 125 editorial jobs -- a quarter of its newsroom -- as part of a restructure to save money.